Verdence Capital Advisors LLC Grows Stock Position in Atlassian Co. (NASDAQ:TEAM)

Verdence Capital Advisors LLC boosted its stake in shares of Atlassian Co. (NASDAQ:TEAM) by 88.8% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,503 shares of the technology company’s stock after purchasing an additional 1,648 shares during the quarter. Verdence Capital Advisors LLC’s holdings in Atlassian were worth $556,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Asset Dedication LLC raised its holdings in Atlassian by 229.8% in the second quarter. Asset Dedication LLC now owns 155 shares of the technology company’s stock valued at $27,000 after acquiring an additional 108 shares in the last quarter. Trust Co. of Vermont raised its holdings in shares of Atlassian by 2,175.0% in the 2nd quarter. Trust Co. of Vermont now owns 182 shares of the technology company’s stock valued at $32,000 after purchasing an additional 174 shares in the last quarter. Rothschild Investment LLC acquired a new stake in shares of Atlassian in the 2nd quarter valued at $36,000. GAMMA Investing LLC lifted its position in shares of Atlassian by 68.6% during the 3rd quarter. GAMMA Investing LLC now owns 236 shares of the technology company’s stock worth $37,000 after purchasing an additional 96 shares during the last quarter. Finally, Edmond DE Rothschild Holding S.A. acquired a new position in shares of Atlassian during the first quarter worth $40,000. Institutional investors and hedge funds own 93.03% of the company’s stock.

Atlassian Stock Performance

Shares of TEAM opened at $237.80 on Monday. Atlassian Co. has a 1 year low of $135.29 and a 1 year high of $258.69. The stock has a market capitalization of $61.93 billion, a P/E ratio of -156.45 and a beta of 0.71. The company has a debt-to-equity ratio of 0.96, a quick ratio of 1.18 and a current ratio of 1.18. The company’s fifty day moving average is $179.57 and its two-hundred day moving average is $172.26.

Atlassian (NASDAQ:TEAM) last issued its quarterly earnings results on Thursday, October 31st. The technology company reported $0.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.64 by $0.13. The business had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.16 billion. Atlassian had a negative net margin of 8.59% and a negative return on equity of 23.35%. The business’s revenue was up 21.5% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.07) earnings per share. On average, sell-side analysts predict that Atlassian Co. will post -0.56 earnings per share for the current year.

Analysts Set New Price Targets

TEAM has been the topic of a number of analyst reports. UBS Group raised their price target on Atlassian from $180.00 to $205.00 and gave the company a “neutral” rating in a research note on Tuesday, October 22nd. BMO Capital Markets boosted their target price on Atlassian from $177.00 to $255.00 and gave the stock a “market perform” rating in a research note on Friday, November 1st. Robert W. Baird increased their price target on shares of Atlassian from $175.00 to $200.00 and gave the company a “neutral” rating in a research note on Friday, November 1st. JMP Securities upgraded shares of Atlassian to a “hold” rating in a research report on Friday, August 2nd. Finally, Mizuho lifted their price target on shares of Atlassian from $200.00 to $240.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. Nine investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $243.16.

Insider Transactions at Atlassian

In related news, CTO Rajeev Bashyam Rajan sold 199 shares of Atlassian stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $146.08, for a total value of $29,069.92. Following the sale, the chief technology officer now directly owns 128,957 shares in the company, valued at $18,838,038.56. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Atlassian news, CTO Rajeev Bashyam Rajan sold 199 shares of the company’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $146.08, for a total transaction of $29,069.92. Following the transaction, the chief technology officer now directly owns 128,957 shares in the company, valued at approximately $18,838,038.56. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Scott Farquhar sold 7,948 shares of Atlassian stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $164.81, for a total transaction of $1,309,909.88. Following the sale, the chief executive officer now owns 182,804 shares of the company’s stock, valued at approximately $30,127,927.24. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 245,662 shares of company stock valued at $44,653,051. Corporate insiders own 38.55% of the company’s stock.

About Atlassian

Atlassian Corporation, through its subsidiaries, designs, develops, licenses, and maintains various software products worldwide. Its product portfolio includes Jira Software and Jira Work Management, a project management system that connects technical and business teams so they can better plan, organize, track and manage their work and projects; Confluence, a connected workspace that organizes knowledge across all teams to move work forward; and Trello, a collaboration and organization product that captures and adds structure to fluid and fast-forming work for teams.